Resources Events Agents The REA Ontology Business Models

Resources Events Agents The REA Ontology Business Models – REA Ontology

Example of Exchange 1 Magazine Subscriber Publisher Subscription Payment Business Models – REA Ontology Delivery 2

Example of Exchange 2 Product Customer Company Order Payment Business Models – REA Ontology Shipment 3

Example of Exchange 3 Customer Company Product Agents Order Resources Order line REA Events Payment Business Models – REA Ontology Shipment 4

REA - Intuition Resource Agent Resource Events exchanging resources Business Models – REA Ontology Agent 5

Economic Resource An economic resource is something of value that is under the control of an agent and that can be transferred from one agent to another ¨ Examples: cash, goods, labour service ¨ Business Models – REA Ontology 6

Economic Event An economic event is the transfer of control of an economic resource from one agent to another agent ¨ Examples: cash-payment, shipment ¨ Business Models – REA Ontology 7

Economic Agent An economic agent is someone who is able to participate in economic events ¨ Examples: manufacturer, distributor, carrier, consumer ¨ Business Models – REA Ontology 8

Duality Customer Company Agents Product Order Resources Duality Order line Events Payment Business Models – REA Ontology Shipment 9

Duality is a relationship between economic events expressing that in order to obtain an economic resource, an agent must give up another economic resource ¨ “One good turn deserves another” ¨ Business Models – REA Ontology 10

Duality Product resource to Customer from Company Shipment duality Cash resource to Company from Customer Payment Business Models – REA Ontology 11

Basic REA Ontology custody Economic Resource Economic Event Economic Agent duality Business Models – REA Ontology 12

Basic REA Ontology Cash Payment Customer Economic Resource Economic Event Economic Agent duality Product Shipment Business Models – REA Ontology Company 13

Commitments and Contracts Customer Company Agents Product Order Contract Resources Duality Order line Commitment Events Payment Business Models – REA Ontology Shipment 14

Commitment An obligation to perform an economic event in the future ¨ Example: order lines ¨ Business Models – REA Ontology 15

Contract A contract is a container for a collection of commitments ¨ Example: purchase order with several line items ¨ Business Models – REA Ontology 16

REA Ontology Economic Resource Type reserves Economic Commitment Economic Contract fulfils Economic Resource Economic Event Economic Agent duality custody Business Models – REA Ontology 17

Operational Level and Knowledge Level Information structures that characterise and prescribe the structure and behaviour of objects at the operational level Knowledge Level Operational Level Concrete objects that can be born, change and die Business Models – REA Ontology 18

Operational Level and Knowledge Level Recipe Car model Book Knowledge Level Operational Level Meal Car Business Models – REA Ontology Book copy 19

REA Ontology - Summary Business Models – REA Ontology 20

REA Ontology - Links Business Models – REA Ontology 21